iHeartMedia introduced immediately that they might make a strategic funding cope with High Times Holding Corp. The $5,000,000 promoting deal comes alongside a $10,000,000 funding.
Per the phrases of the settlement, the long-lasting hashish model will achieve entry to the long-lasting radio model’s stock, outside promoting, mass media experience, and different related providers. iHeart will decide to High Times a minimal of $5,000,000 value of promoting media stock on the iHeart broadcast radio stations all through the United States, in addition to on its Clear Channel out-of-home promoting billboards. High Times intends to make the most of the advert media stock purchases to publicize its pending most $50 million Regulation A+ preliminary public providing.
“The synergies are obvious,” stated Adam Levin, chairman and CEO of High Times. “While TV and movies influence culture, music and events define it. This strategic alignment gives both organizations a vested interest in each other and sets the stage for some really interesting collaborations in the future.”
Boasting over 1 / 4 billion month-to-month listeners within the US alone and over 850 radio stations, iHeart is the most important radio outlet in America. It additionally serves Clear Channel Outdoor, a worldwide community of out-of-home promoting areas which leverages viewers insights and product innovation to attach advertisers with shoppers in the appropriate place on the proper time.
High Times is at present providing shares within the firm by way of a Regulation A+ crowdfunding marketing campaign. Investments are going robust, with hundreds of thousands of dollars already raised from over 6,000 buyers. This marks yet one more deal for High Times as they achieve momentum surrounding the completion of its preliminary public providing.
Just final week, High Times entered into an settlement with and is scheduled to accumulate this week Dope Magazine, the second largest publication within the business, after additionally including Green Rush Daily and Culture Magazine to its portfolio, in addition to a report label and an OTT streaming platform.